Print（PDF/164KB） May 14, 2024 Finances

Sumitomo Pharma Announces Reduction in Executive Remuneration

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, Prime Market of TSE) announced today that in light of the consolidated financial results for the year ended March 31, 2024, the consolidated financial forecasts and the dividend forecasts for the year ending March 31, 2025 announced today, it will reduce remuneration for its Directors as below.

1. Scope of reduction:

Representative Director, President and CEO	30% of base remuneration
Other Directors (excluding Outside Directors)	20% of base remuneration
Performance-linked remuneration (bonuses) for the year ended March 31, 2024 will be reduced by 100% for all eligible directors.

2. Period of reduction of the base remuneration:

From May 2024 to March 2025 In addition, in April 2024, the same amount reduction as that implemented until March 2024 was implemented (30% reduction for the Representative Director, President and CEO, and 10% reduction for other directors (excluding outside directors)).